110 S Fairfax Ave, Los Angeles, CA 90036 – Located at the Historic Farmer’s Market at the Grove. Convenient location with access to Hollywood, West Hollywood, Beverly Hills, and the Westside. Right in the center of it all and perfect for the entertainment industry, design, production, and fashion. Great creative office spaces in West Hollywood. The first floor is retail space and the 2nd and 3rd floors are offices. Suites from 1,200 – 2,800 sq. ft. are available and feature high ceilings, tons of natural light, concrete floors, and flexibility to create the style and feel to suit your business. Please contact me for information, showings, or for a space that may work better for you.

Real estate sales to foreign buyers and new immigrants surged to new highs in the last year, according to a study released Tuesday by the National Assn. of Realtors, with the Southland being a prime destination.

Overseas buyers and newcomers to the U.S. accounted for $92 billion in home sales in the 12 months ending in March, NAR said. That’s up 35% from the prior 12-month period, and higher than the previous record of $82.5 billion set in 2012. These buyers made up roughly 7% of all U.S. home sales, by dollar value.

The increase was fueled by a 50% jump in activity from Chinese buyers, who bought $22 billion worth of U.S. real estate last year. Experts say many Chinese buyers see U.S. real estate as a better investment opportunity than is often available in China, and in some cases as a safe haven for cash. Many also buy homes here to put their children in U.S. schools.

And Chinese buyers, in particular, have an eye for Southern California. Los Angeles and Irvine were two of their top three destinations, according to the survey, with San Francisco ranking second. Chinese buyers have long been a factor in some parts of Southern California, particularly the San Gabriel Valley; as more come here, they’re spreading to new areas as well.

Los Angeles is the top choice for buyers of several other nationalities, too, according to data tracking searches of Realtor.com. Buyers from India, the United Kingdom, Australia, Ireland and Russia were also most likely to search here. For Mexican buyers, San Diego was the top choice.

The Realtors Assn. said it expects foreign interest in U.S. real estate will continue to grow as the economy grows ever more global.

“We live in an international marketplace, so while all real estate is local, that does not mean that all property buyers are,” said NAR president Steve Brown. “Foreign buyers are being enticed to U.S. real estate because of what they recognize as attractive prices, economic stability and an incredible opportunity for investment in their future.”

2,442 sq. ft. now available for lease in the heart of West Hollywood real estate.

Bright and airy Melrose Ave. space for lease in very desirable location. This space includes skylights, built-ins, high ceilings, and some parking. This is everything that prime West Hollywood real retail has to offer.

Please contact me for details and showings or for assistance in finding a space more suitable for your needs.

My client purchased this rare and incredible property in the heart of West Hollywood real estate 48 years ago for just $45,000 and I just sold it for $1,900,000. Please contact me direct to list your property and sell for top dollar!

This West Hollywood home is in the center of it all, yet discretely and securely tucked away behind gated hedges on a quiet tree-lined street. Once behind the gates, a 4-car driveway is revealed with direct access to the front and backyard through custom wooden gates. A large fountain, lush landscaping and multileveled bricked patios offer a serene outdoor area that’s perfect for relaxing.

Double doors open into a tiled entry allowing shoes or a coat to come off before stepping into the massive open floor plan of the living, dining and family rooms. The living room offers a formal experience with custom fireplace (controlled by remote) and beautiful hardwood floors. Recessed lighting and a large picture window make the room bright and warm. Custom wood posts divide the formal living and dining room allowing for entertaining and hosting dinner parties. The dining area offers custom built sky lights along with custom sliding windows all of which have beveled glass mirroring the clean lines of the wood posts and chair railing. Recessed lighting with controlled dimmers above (and through-out the home) allow for setting the mood in any room of the home.

The open kitchen features high-end stainless steel appliances and custom cabinetry. Double ovens are situated next to a 5 burner gas stove making the perfect combination for the cook. Two sinks for prepping (or Kosher cooking), filtered water system, and double door fridge complete this premium kitchen. Black Caesarstone counters make the stainless steel appliances shine and multiple breakfast bar areas are situated around the kitchen, perfect for eating or leaning on while talking to the cook. Stepping away from the kitchen, you enter the family room with beautiful, custom architectural skylights. This area is perfect for the more relaxed days of the week watching a movie with friends and family or sipping a glass of wine. Off the family is a beautiful outdoor patio that is elevated above the backyard, yet is still perfectly private. Plenty of room for entertaining your guests or lounging alone, this is the perfect getaway just steps from the inside of the home. Also off the patio is a staircase leading into the large backyard.

Beyond the entertaining areas, the first floor of the home includes a master bedroom with views of the beautiful treetops in the backyard. Two entry options into the room, from the hallway or family room create a nice flow for the room. Two separate closets allow for large wardrobes and storage. The master bathroom has beautiful custom tile work and multiple shower heads to create a spa-like experience.

Down the hall is a guest bedroom with access to the front yard and custom built-in book shelves. This room is perfect for guests or a home office/library and also features double entry ways, double doors opening into the living room and also an entry into the hallway. A guest bathroom with black and white tiled floors and custom cabinets create a high-end feel. The bathroom also has enclosed laundry room with high-end stackable washer and dryer and shelves for linens.

A custom glass and wooden staircase lead the way to the second floor of the home which is situated downstairs below the main level of the house. This part of the home is truly rare and offers many options for the owner. The stairway is concealed behind a door with additional storage in the hall perfect for luggage or seasonal decorations. The large bedroom has views of the backyard and a full bathroom with custom double sinks and allow for the perfect guest retreat or extended family member’s stay.

This level also includes a mother-in-law kitchenette and second laundry room with high-end washer/dryer. The kitchen (once operating as a recording area of a studio) offers easy access to food and drink or can be easily converted into a projection room, media storage or left to serve its current purpose. A truly versatile space waits just on the other side of the kitchen which currently functions as a recording studio. This room has many useful options and is a wonderful bonus space for a home owner to have and can be used as living space, screening room or additional lounging area.

The lower part of the home opens into the backyard with multiple covered and open entertaining areas hidden with large manicured hedges that create privacy. The property has fruit trees and a garden area perfect for skipping the market for fresh fruit or herbs.

The home also offers the quintessential white picket fence which separates the main house from the full guest home. A separate entrance from the side of the yard makes this convenient for extend guests or family to enter the guest house with privacy and ease. A large room offers the prefect amount of space for the already installed kitchen area, living and dining space. A separate bedroom encloses off the living space with walk-in closet. The guest house also offers a fully remodeled bathroom with custom tile work and Jacuzzi tub. An exterior area that is hidden away from the rest of the property offers privacy and lounging areas for the guests. Also featured is a third laundry area so entrance into the main house is not necessary.

Nowadays all you hear about is new technology, from electric cars that park themselves to commercial flights bound for space. Well in real estate, Smart Homes are the “new thing”! Smart-home systems start at around $2,000 and top out at more than $1 million, offering homeowners remote-controlled lighting, window shades, swimming pools, door locks, thermostats and security cameras – not to mention cutting-edge sound systems and home theaters. I’ve even seen a system that turns a regular TV room into a nightclub with the touch of a button on your iPad. Innovation is the key to growth and from my experience as a Realtor; it pays to trick your house or business out with the latest gadgets.Don’t just do it to impress friends, family, and customers, but think of potential buyers, as well! In working with clients of all budgets, all over Los Angeles, and in both commercial and residential real estate, I’ve come across some interesting technology and trends. Some of these trends and gadgets are unimaginably expensive, others I find useless, while some are pretty impressive and tangible for home and business owners. Below are some of the smart home trends I’ve seen, which are useful and affordable, and will increase the value and “It Factor” of your property almost instantly!

1. NEST: The smart version of your everyday thermostat, designed to learn the temperatures you prefer while switching to energy efficient settings while you’re away. The more I look at homes, in all price ranges, but mainly those that have been recently updated, the more I see this Nest feature that sellers and agents are always bragging about or pointing out. Essentially it gives new life and sleekness to the boxy, outdated, boring old thermostats you see and throws in a feature that allows you to control the temperature of your home while you’re away, learns what you like, and helps you save a few bucks on your energy bill. Nest runs about $250 and seems to be worth every penny from what I hear.

2. Cyber Rain Sprinkler System: This is a sprinkler controller with a brain. It uses the internet to check the weather and automatically adjusts run times. This system is ideal for the homeowner who wants to conserve water and be alerted to problems with their landscape. The Cyber Rain Pro checks your controller status every time it waters and emails if it detects a problem. If an optional flow meter is attached, the Cyber Rain Pro will also email you if you have a broken sprinkler head or a leak in your irrigation pipes. The system can also be remotely accessed by your landscape professional. Considering the costs of water and the serious drought problems in CA, this sounds like a smart investment. I’m surprised more people aren’t using technology like this to conserve water and save cash! It’ll run you about $700 bucks, but I’ve seen some of my clients’ water bills and trust me…it’s worth it!

3. Phillip Hue: Combines brilliant LED light with intuitive technology. Puts both in the palm of your hand. According to the company site: “Together, the bulbs, the bridge, and the app will change the way you use light. Forever. Experiment with shades of white, from invigorating blue to soothing yellow. Or play with all the colors in the hue spectrum. Hue can wake you up. Help protect your home. Relive your favorite memories, and even improve your mood.” This is a smart LED lighting product that you control from you iOS device. Basically this system takes your home’s or business’ mood lighting to the 21st century. So when you’re putting your home on the market or planning a big restaurant opening, consider “setting the mood” and see what transpires! Costs $200 and you can buy it at the Apple Store.

4. Yale Smart Locks: Sleek Motorized Z-Wave Touchscreen Deadbolt for Remote and Automated Access Control. Runs about $250 and combines a highly secure lockset with an illuminated 12-button touchscreen keypad, which allows users to lock and unlock their home via manual control or Z-Wave compatible home controllers. The lock stores up to 25 custom entry codes for easy manual locking and unlocking, plus an automatic deadbolt lock function. It’s designed for seamless integration with any Z-Wave product or central home controller to allow for monitoring of the lock’s status and remote lock/unlocking of your doors. An upcoming Yale lock will feature NFC (near-field communication) tech that will allow you to open it by waving your smart phone over it Jedi-style. With devices like this, you’ll never get locked out again!

5. The iSmartAlarm System: The system is modular, letting you buy the pieces you need in order to put together the perfect system for your home. You’ll need a CubeOne, which is the brain of the system, and then you can add sensors for doors and windows, cameras, motion detectors and remote control keyfobs. If any alarms come up, you’ll get an alert on your phone, and you can see what’s happening through the app in order to respond appropriately. You can also use iSmartAlarm to see if your family is home — even when you’re working late — and check that all of the doors and windows are closed and locked before heading to bed. Starts at $199, while safety and peace of mind are definitely priceless!

These days, you can automate just about everything, depending on your budget and needs. The smart home & business trend is something new today, but soon it’ll become the norm and be expected, so get ahead of the game and turn your home or business into a smart one! We may not be living quite like the Jetsons yet, but we’re getting there! If you’re looking for tips or recommendations for home automation, please contact me.

As always, if you or someone you know is in need of real estate assistance, commercial or residential, I am happy to help! Please contact me direct or pass my information along!

Paying taxes on capital gains for property transactions has always been a hindrance to those involved in real estate investment. Why should investors pay taxes on profit from real estate transactions if they’re putting the profit right back into some other real estate transaction?
The answer: They shouldn’t.

That’s exactly why the IRS created 1031 exchanges: to allow for tax deferment on profit that is reinvested immediately. Notice it’s a deferment, not a credit or a reduction. It does have to be paid eventually, just not at the time of sale and not until the money is taken out of the property, at which point it is taxable. Eager to learn more, I found some info on 1031 exchanges at 1031.org.

What Is a 1031 Exchange?

Simply put, a 1031 exchange is a method of deferring the tax on capital gains until some point in the future, according to 1031.org. They’re called Section 1031 exchanges because Section 1031 of the Internal Revenue Code states that “no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business, or for investment.”

Section 1031 was created to encourage reinvestment of sale proceeds of property into similar property. Obviously this stimulates business and growth. As long as the investor continues to put profit back into more property, taxes are not owed.

This all makes pretty good sense. Let’s say I invest in a house in Beverly Hills that costs me $100,000 (I WISH!). I put $50,000 into the house and put it on the market. It sells for $250,000. My $100,000 profit, or capital gain, is then put into another property that I buy to fix up and sell. This continues, and all of my capital gains are deferred with a 1031 exchange UNTIL I sell my last property and enjoy my profit. At that point, I pay all taxes owed.

Frequently Asked Questions About 1031 Exchanges

What is the benefit of a 1031 exchange versus just selling property?

A Section 1031 exchange is one of the few ways investors can defer taxes due on the sale of property (assuming it qualifies for a 1031 exchange). Deferring taxes allows investors access to the money that would otherwise be paid in taxes, allowing them to invest in another property.

What are the general guidelines to follow in order to defer all the taxable gain?

The IRS is very clear on this. The value, equity in and debt on the new property must be equal to or greater than the value of the property being sold for an exchange to be valid. This is even more important – ALL of the profit from the property sale MUST be used to buy the new property. If even a tiny percentage of the profit is used for something else, the 1031 exchange is not valid.

If there is already a contract to sell the property, is it too late to start a tax-deferred exchange?
No, as long as there has not been a transfer of title or a closing on the sale of the property, a tax-deferred exchange can still be arranged. Once the closing occurs, it is too late.

Can the replacement property eventually become the investor’s primary residence or vacation home?
Yes, but Section 1031 has holding requirements (minimum length of time the new property must be owned) that must be met prior to changing the primary use of the property. According to 1031.org, the IRS has no specific regulations on holding periods (though a minimum of a year is recommended), and “if the owner later on wants to take advantage of the home owner’s exemption (up to $250,000 or $500,000 for a couple), there is now a five year holding period requirement.”

Finally, remember that if you’re a real estate investor or considering becoming one, now is still a great time to do so. Mortgage rates are still very low and property values, though trending up, are also still very low in many parts of the country. As always, please let me know if you have any questions.Happy investing!